Actuarial Professional Services and Broker of Record Services for the Waterloo Region Municipalities Insurance Pool

The City of Kitchener, on behalf of the Waterloo Region Municipalities Insurance Pool (WRMIP), is seeking proposals for integrated Actuarial Professional Services and Broker of Record Services. The successful proponent will provide comprehensive support for a mature municipal insurance pool consisting of eight members, focusing on insurance market placement, actuarial consulting, risk financing, and strategic advisory services. Key deliverables include the provision of regular Capital Adequacy reports and the review and optimization of the Levy Allocation Model in 2026. The contract is intended for an initial five-year term starting in December 2026, with the option for two additional five-year extensions. Proponents must demonstrate significant expertise in Ontario municipal insurance and identify a dedicated team consisting of a Lead, Peer Reviewer, and Day to Day Analyst. The selection process is based on a cumulative score involving a pass/fail mandatory submission stage, a technical evaluation weighted at 63 points, a presentation weighted at 12 points, and a pricing evaluation weighted at 25 points. Pricing is generally structured as an all-inclusive annual flat fee. To be eligible for award, the selected firm must meet strict insurance requirements, including $5 million in Professional Liability Insurance and $2 million each for Commercial General Liability and Auto Liability.